Wednesday, October 31, 2012

Mitt Romney's First 100 Days and Beyond

You wouldn't know it by watching CorruptMedia or by reading most of the polls, but it's my opinion that this election is basically over and Romney is going to win. It may not even be that close. The polls are too skewed and are painting an incorrect picture of the race.

It's time to start thinking about the all-important first 100 days for the new administration. The economy is number one. You can only do so many things in the first 100 days of a new administration and only about 3 or 4 things in the first 6 months of a Presidency, so one has to be judicious in choosing the most important things.

Here's my suggestion for Romney's first 100 days and for his first 6 months. As you read it, imagine if the recommendations would happen with Obama in the White House. If I'm proven wrong, the blog recommendation stands. The agenda items below stand as the most important matters of our day.

Romney's First 100 days

Sponsor the first federal budget in 4 years. Freeze Federal spending on all programs for one year. Freeze benefit increases for federal workers at the same time.

In his inauguration, Romney should hark back to the days of John F Kennedy and call for this decade's version of JFK's ambitious goal to "Land a Man on the Moon in 10 Years" by calling for energy independence for the US (maybe independence from OPEC oil?) in ten years. Open the US East and West coasts to energy exploration by re-initiating permitting on those offshore areas. Open ANWR to exploration. Accelerate delayed permitting that has been bogged-down by the Obama Administration in the US Gulf Coast.

Invite Boone Pickens and energy company leaders to the White House and support a private enterprise plan to build CNG filling stations (compressed natural gas) across the country to enable substitution of natural gas for gasoline and diesel transportation fuels. Converting cars to CNG could be a good growth industry as conversion kits are available.

Work out a Grand Bipartisan Compromise on Individual and Corporate Tax Reform. As in Simpson Bowles, reduce marginal rates but broaden tax collection. Limit individual tax deductions at some maximum amount at $15,000 or $17,000. Limit and/or eliminate certain tax credits Maybe eliminate all deductions/credits for incomes over $500k?

Work out a Medicare and Social Security compromise by means testing both of these programs right away.

With Corporate marginal tax rates lowered, make a patriotic call for bringing manufacturing and jobs back to the USA from Asia. Make a deal with WalMart to re-institute a "made in USA" policy again. Make a big patriotic splash on the steps of the White House to make republicans, democrats and business leaders look like heroes.

Approve the Keystone Pipeline extension.

Call for a moratorium on increased business regulation. Reverse EPA's regulation of carbon dioxide since carbon dioxide in flue gas is not harmful to human health in any reasonable sense of the term.

Romney's First Six Months

Repeal or scale-back ObamaCare and pass a new version that focuses on medical cost reductions such as tort reform, encourages competition where possible, and expand the number of doctors through immigration and more MD graduations.

Pass a long term Medicare Reform that caps government cost growth and garners bipartisan support.

Plan to increase the Social Security eligibility age slowly over time starting 10 to 12 years from now.

Modify Dodd Frank and/or break up the big banks into investment and banking entities and limit leverage to about 12 times capital, require everything to be indicated on-balance sheets, and mark-to-market all hedges daily. Pass financial malfeasance laws that require jail terms and 7 year salary claw-backs for bank executives and high level management should a bank fail or serious fraud occur.

Eliminate a number of Federal government departments including Dept of Education, NLRB, Dept of Energy, Homeland Security, and the Dept of Agriculture. Consolidate and reduce the size of the various intelligence agencies.

Eliminate agriculture subsidies to large corporate farmers.

Invite population growth by encouraging qualified immigrants with valuable skills. Offer 10 year work permits and visas for 'qualified' foreigners who buy a USED house in the US.

Replace Bernanke with someone who is committed to normalize monetary policy and raise interest rates to more "normal" levels relative to inflation.

Eliminate money in politics. Go with all Federal money for national campaigns--no private contributions permitted. Ban lobbyist money too. No SuperPacs. Make 2012 the last year of billion dollar campaigns!

If Romney is not elected, I will leave this agenda posted as a reminder of what could have been. Don't be shy and give me your suggestions for the next presidential term---regardless of who wins! Thanks in advance.

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About Me

I have 30 years of international oil and gas project experience but now early-retired. I hold a Bachelors of Chemical Engineering and an MBA in Economics. I have traveled the world widely for work and pleasure and call the US Gulf Coast my home.